Latham & Watkins Advises on CoreWeave’s US$2.6 Billion Delayed Draw Term Loan Facility

CoreWeave, Inc. (Nasdaq: CRWV), the essential cloud for AI™, announced it has closed its US$2.6 billion delayed draw term loan facility (DDTL 5.5 facility), supporting the continued expansion of its AI cloud platform and committed customer deployments. The DDTL 5.5 facility extends CoreWeave’s HPC infrastructure-backed financing platform by broadening the scope of customer contracts eligible for publicly syndicated infrastructure financing. It also builds on CoreWeave’s continued capital markets momentum and follows the company’s previously announced US$3.1 billion DDTL 5.0 facility and US$8.5 billion investment grade rated DDTL 4.0 facility completed earlier this year. JPMorgan and Mitsubishi UFJ Financial Group served as joint lead arrangers and bookrunners for the transaction.

Latham & Watkins LLP represented Morgan Stanley and MUFG in connection with the financing with a team led by partner Chirag Dedania and counsel Josh Chao, with assistance from Gregory Pappas, and partners David Siegel, Keith Halverstam, Sal Vanchieri, and counsel Joyce Shin, with associates Diana Duan, Paul Tran, and Julius Ma. Advice was also provided on intellectual property matters by partner Morgan Brubaker, with associates Azam Chaudry and Brittany Grego; and on real estate matters by partner Mike Rechtin and counsel Tori Campbell, with associates Vasi Mitrakos and Brandon Hemans.